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Measure the Risks And Uncertainties Of Businesses With Actuaries


An actuary refers to a professional who helps to assess, manage and provides useful inputs related to financial risks. These individuals use their vast knowledge of business as well as economics, along with the understanding of probability theory to provide suggestions based on strategic, commercial and finance.

Ø What do Actuaries require to have for getting the desired level of success?
Any professional in this field would require the application of his mathematical, economic and statistical awareness to real-life circumstances, which arise in the world of finance and thus manage to communicate complex topics to all those who are non-specialists. Hence, it is important that the professional possesses the qualities of being an excellent communicator along with the ability to discuss complex topics in a simple manner.

There are actuarial companies spread across the length and breadth of the country. Just like, one can find actuaries and companies dealing with measurement of risks and uncertainties of businesses in the financial capital of the country, Mumbai, similarly, there are Actuarial companies in Bangalore as well. Numerica is one of the very well known actuarial company in Bangalore.

Ø The Science behind Actuary

Actuarial companies basically help to assess the financial risk linked with a particular situation in the world of business by mainly using probability, theories of finance as well as computer science. Now, the coming together or the convergence of these three fields for the profession of actuary is known by the name of actuarial science. 

Ø Actuaries Undergo Rigorous Training

Private and public institutions are heavily dependent on this particular science for determining the relative risk of various kinds of decisions, which they take on a day to day basis. They hire actuaries so that those professionals can help the organizations in making the right judgement related to risks and uncertainties.

Hence, actuaries go through intense training schedules and extensive tests before they go ahead towards practice. Just like our financial capital, a city close to it, Pune also possesses a number of investment banks and insurance companies, who recruit actuaries and then make them undergo intense training. Apart from the investment banks and insurance companies, there are Actuarial companies in Pune as well, which help in providing solutions to businesses by assessing the risks and uncertainties linked with all of them. If we look into the southern part of the country, there are even certain Actuarial companies in Chennai, which provide their valuable inputs to businesses and help them deal with the risky as well as tight scenarios in an efficient manner.

Ø Roles and Responsibilities of Actuaries

Following are some of the roles and responsibilities that actuarial companies carry out:
  •  To develop new financial products.
  • Analyze statistical data for making necessary calculations
  • Prepare valuations, reports, presentations as well as quarterly updates
  • Monitor risk within trading positions in investment banks to make sure that excessive risks are not taken during the high pace of trading.
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